Clearinghouse CDFI provided $1,500,000 in financing to J&D Distilling Co., LLC, to refinance an existing trust loan, covering closing costs and providing working capital to support continued operations at Potter Jane Distilling Company. The financing serves as a USDA participation loan in conjunction with Magnolia Bank, benefitting operations in a rural Kentucky community. The financing is secured by a 36,000-square-foot distillery facility located on 153 acres in Springfield, KY, which has the capacity to produce up to 45,000 barrels annually.
Having worked together previously and been friends for years, owners Jane Bowie and Denny Potter had a distinct vision for the distillery from the moment they left Maker’s Mark: a simplistic operation. Their combined industry knowledge meant they knew exactly what they wanted from the outset, from column height to fermentation tank capacity and a shotgun-style distillery layout inspired by traditional Southern architecture.
While distilleries face high taxes and increasing competition, recent legislative changes aimed at reducing barrel taxes and expanding tourism opportunities are expected to support long-term industry growth. This financing helps stabilize operations and positions J&D Distilling Co. to capitalize on favorable market trends, contributing to economic activity and job creation within the region.
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